Division of Assets and Debts

The division of assets and debts is one of the most critical aspects of the divorce process, as it determines how property, investments, and liabilities are allocated between the parties. At Woolsey Morcom, we provide experienced legal guidance to ensure that the division of marital assets and debts is handled fairly and in accordance with Florida law. Our attorneys work closely with clients to identify and value all marital property, including real estate, retirement accounts, business interests, and personal belongings, as well as any shared debts. We strive to achieve equitable distribution that reflects our clients’ needs and goals while protecting their financial future.

In Florida, the principle of equitable distribution governs the division of marital assets and liabilities. This does not always mean a 50/50 split, but rather a fair distribution based on a variety of factors. These include the duration of the marriage, each spouse’s economic circumstances, contributions to the marriage (both financial and non-financial), and any intentional dissipation or waste of marital assets. Our attorneys work to ensure that these considerations are properly addressed and that our clients’ financial interests are fully represented throughout the process.

Dividing assets and debts can be particularly complex when dealing with high-value estates, hidden assets, or disputes over the classification of certain property as marital or separate. For instance, property acquired before the marriage may be considered separate, but if it was commingled or enhanced during the marriage, it could become subject to division. Similarly, businesses started before the marriage but expanded during the relationship may involve both marital and non-marital components. Woolsey Morcom’s attorneys are skilled in handling these challenges, employing forensic accountants, financial experts, and other professionals when necessary to ensure that all assets are properly identified and valued. We advocate for our clients in negotiations and, if required, in court to secure a division that is just and in their best interests.

We also assist with the proper identification and allocation of marital debts. Credit card balances, mortgages, auto loans, and personal loans incurred during the marriage are typically considered joint responsibilities. However, disputes can arise over who should be responsible for specific obligations, especially if one party accrued the debt irresponsibly or without the other’s knowledge. Our team works diligently to ensure that liability is fairly assigned and that our clients are not burdened with disproportionate financial responsibility.

In addition to representing clients during the division of assets and debts, Woolsey Morcom also provides ongoing support for post-divorce financial matters, such as modifications to property settlement agreements or the enforcement of court orders. We understand that financial stability is a key concern during and after divorce, and we are committed to helping our clients navigate these issues with confidence and security. Whether through mediation, collaborative law, or litigation, we tailor our strategy to suit each client’s unique situation and goals.

By working with Woolsey Morcom, you gain a trusted legal partner who is focused on protecting your financial well-being and ensuring that your rights are upheld during one of life’s most challenging transitions